New Tax Law Helps with Tuition

1/10/2018

On December 22, President Trump signed into law a tax bill that benefits thousands of families with children in religious and independent schools. The new bill expands the use of 529 savings accounts so that families can withdraw up to $10,000 a year tax free to use for "public, private, or religious elementary or secondary school" expenses. Currently, money invested in 529s can be used for college expenses only.